Ibio SEC Filings

iBio, Inc. reported continued development-stage operations with negative operating cash flow of approximately $15.3 million and an operating capital deficit of about $15.3 million as of June 30, 2025, versus an $18.6 million deficit a year earlier. The company had 19,349,201 shares outstanding at June 30, 2025, up from 8,623,676 a year earlier, reflecting multiple equity financings including a 2025 Private Placement that generated approximately $655,000 and warrant exercises and inducement sales that produced aggregate gross proceeds of about $6.2 million. Material transactions include the acquisition of RubrYc (AI drug-discovery assets and related candidates) and CDMO facility purchases financed in part by a secured term loan and settlement arrangements. The filing describes extensive regulatory, clinical, manufacturing and collaboration risks for its vaccine and antibody programs, significant reliance on third-party manufacturers and collaborators, and previously identified internal control weaknesses that were remediated.

Affinity Healthcare Fund, LP and its investment adviser Affinity Asset Advisors, LLC disclosed a passive stake in iBio, Inc. The filing reports the Fund holds economic and voting interests in warrants exercisable into 4,280,000 shares of iBio common stock, representing 9.99% of the class on a reported basis. The filing explains a beneficial ownership limitation that prevents full exercise of all warrants without exceeding 9.99%, meaning the maximum number of shares that may be issued upon exercise without breaching that limit is 2,391,070. Voting and dispositive power over the reported securities are shared between the Fund and the Advisor.

Point72 entities and Steven A. Cohen reported beneficial ownership of 14,289,118 shares of iBio, Inc. common stock, representing 9.9% of the outstanding class as of August 22, 2025. The reported position includes 14,280,000 shares issuable upon exercise of warrants, but those warrants are subject to a 9.99% exercise blocker so some warrants are not currently exercisable.

The filing states Point72 Asset Management, Point72 Capital Advisors and Mr. Cohen share voting and dispositive power over the reported shares through Point72 Associates and related arrangements. The cover pages and Item 4 disclose shared voting and dispositive power only; none of the reporting persons claim sole voting or dispositive power over the reported shares.

iBio, Inc. reported a material event filing that discloses a financing-related package of documents. The filing attaches an underwriting agreement with Leerink Partners as representative of the underwriters, forms for a pre-funded warrant and two series of warrants, a legal opinion and consent from Blank Rome LLP, and two press releases described as a launch release and a pricing release. The filing also includes the interactive cover page data file. The disclosure signals a planned securities offering structure but does not include offering size, pricing terms, or proceeds in the attached exhibit list.

iBio, Inc. filed a prospectus supplement on Form 424B5 describing a securities offering that includes pre-funded warrants, Series G and Series H warrants, and related common stock issuances. The underwriters receive a commission equal to 6.0% of aggregate gross proceeds. The filing lists outstanding and reserved equity instruments as of March 31, 2025 and August 11, 2025, including stock options (weighted-average exercise prices $5.15 and $5.92), pre-funded warrants with a $0.0001 exercise price, previously issued warrants with weighted-average exercise prices of $2.30 and $1.30, and shares reserved under the 2023 Omnibus Equity Incentive Plan. The document discusses use of proceeds, risk factors, plan of distribution, restrictions on transfers and lock-up provisions, U.S. and non-U.S. holder tax rules, and where SEC filings are incorporated by reference. The prospectus also describes iBio’s AI-driven epitope engine, capital-efficient strategy emphasizing partnerships, tech licensing, and in-house preclinical programs focused on oncology, obesity and cardiometabolic diseases.

iBio, Inc. filed a prospectus supplement for an offering that includes Series G warrants and Series H warrants (the latter issuable upon exercise of Series G warrants) and related pre-funded warrants or common stock. The underwriting fees include a 6.0% commission on aggregate gross proceeds. The document discloses outstanding equity-linked instruments as of March 31, 2025 and August 11, 2025, including stock options, restricted stock units, previously issued pre-funded warrants and warrants, and shares reserved under the 2023 Omnibus Equity Incentive Plan, which create dilution potential. The prospectus describes intended use of proceeds, risk factors (including that warrants may expire worthless), tax withholding rules for non-U.S. holders, and lists incorporated SEC filings and periodic reports. The supplement also highlights the company’s AI-based epitope engine, its capital-efficient strategy emphasizing strategic partnerships, tech licensing and advancing in-house preclinical programs.

ADAR1-affiliated investors report beneficial ownership of 1,794,055 shares of iBio, Inc., representing 9.9% of the outstanding common stock. The holding comprises 54,819 shares held directly by ADAR1 Partners, LP and 1,739,236 shares issuable upon conversion of milestone warrants held by ADAR1 Partners, LP. The filing states that 716,904 additional shares underlying milestone warrants are excluded because their exchange or exercise is subject to a 9.99% beneficial ownership limitation.

The reporting entities are ADAR1 Capital Management, LLC (investment adviser), ADAR1 Capital Management GP, LLC (general partner) and Daniel Schneeberger (manager), each disclosing shared voting and dispositive power over the 1,794,055 shares. The ownership percentage is calculated on a stated base of 16,219,281 shares outstanding.